Advanced Diploma of Leadership and Management - Pre Existing Strategic - Business and Operational Plans - Management Assessment Answer

Advanced Diploma of Leadership and  Management Assessment Answer

Assessment Task:

Short Answer Question 1:
Briefly explain why it is important to review pre-existing strategic, business and operational plans prior to developing a new business plan?

Short Answer Question 2:
Identify one of each PEST(EL) framework forces which are currently affecting the Australian Electricity industry.

Short Answer Question 3:
It has been suggested that milestones should be established to monitor activities, in order to ascertain whether plans are being properly implemented. Identify 3 activities that could be monitored on reaching such checkpoints.

Short Answer Question 4:
What might be useful non-financial performance measures for:
a) A company selling household goods to consumers online?
b) A hotel?

Short Answer Question 5:
One of the basic tenets of Total Quality Management (TQM) is &; get it right first ntime&; Do you think variance reporting would be a help or a hindrance in this
respect? Give reasons for your answer.

Short Answer Question 6:
Suggest ways in which supply chain management can provide the advantages of added value, increased customer satisfaction, increased sales prices and
reduction in waste and efficiency.

Short Answer Question 7:
Cap Co makes high-tech electronic components. Customers place orders online or by phone, and then Cap Co delivers the components to its customers. Cap Co
has just carried out a customer account profitability analysis and has identified various customer groups that are less profitable than others. However, Cap Co is
reluctant to stop selling to the less profitable customer groups altogether and would prefer to increase their profitability. How could Cap Co increase the profitability of the less profitable customer groups?

Short Answer Question 8:
a) Identify 3 communication skills required to transform an underperforming team into a high-performance team
b) Identify 2 ways team leaders can develop individual and team goals.

Short Answer Question 9:
What might be some of the benefits of benchmarking financial ratios with industry competitors? Illustrate your answer with some examples.

Case Study Information:
Frank Swann is a software engineer with a major multinational firm and a highly experienced programmer. He is also a keen racing sailor, and for many years in his spare time, he has been developing a piece of software to help racing sailors plan their tactics for a race. The software enables you to input a wide range of variables, including the weather, the tide, the nature of the course, the boat characteristics and information about the competition. From this, you can then develop a strategy for the race.
After the race, you can input your decisions and test them against what the software considered the optimum strategy. Frank has used it widely and found it
very effective and he has also given copies of it to sailing friends for them to test. They have frequently commented that he should sell it, and he has finally
decided to leave his job and set up a business to sell and market the product. He has decided that the most effective way to distribute it would be through the
internet and so he is planning to set up a sales and promotion web site called tactical.com.au. The software itself will be available through a CD. To make the
software more marketable he will need to employ some other programmers and designers.

He is planning to work from home initially and he estimates his initial set-up costs to be as follows:

•  Software development costs - $14,000
•  E-commerce set-up and hosting - $2,250
•  Design costs - $1,950

Note: the initial set-up costs should be amortized over the first 500 units sold. He has allocated $38,500 for his first year’s marketing budget, though he has
not yet decided the most appropriate marketing methods to use. He has investigated carefully to see what other similar products are available and believes he has found a niche in the market, though there are some other sailing simulation packages, but these are mostly game-style ones and not targeted at serious sailors.

He feels that this is a premium product targeted at a small niche and so he able to set a relatively high price. He has discussed this with sailing friends and
it is clear that price is not very important in their decision about whether to buy the product. He is planning, therefore, to charge $325 for each CD produced.
He expects the variable costs of each unit to be:

•  $2.50 per CD produced
• $5.25 for each manual produced
•  $5.25 postage/distribution cost

He will be starting to sell the product at the start of July 2014 and expects sales for the first year to be:

He is going to approach the bank to try to raise $20,000 start-up funding, but needs some help developing his business plan. Frank has a bank balance of
$16,500 on July 1 st, 2014.

Case Study Question 1:
Which legal business structure would be most appropriate for Tactical? Explain your answer.

Case Study Question 2:
If Frank wants to take a salary of $60,000 in the first year of business, how many units of software will he need to sell to break-even? Show your workings.

Case Study Question 3:
If Tactical do manage to meet the forecasts of sales that Frank has made, what will be their margin of safety?

Case Study Question 4:
Use the following assumptions and create a monthly cashflow for the first 3 months of operation:

a) All the set-up costs (software, e-commerce and design) will need to be paid out in July when he starts up.

b) All sales are made with one month's credit offered (i.e. the cash is received one month after the sales are made)

c) Expenses associated with the production of the software (CD, manual and distribution costs) have to be paid in the same month as the sales are
made.

d) The marketing budget will be spread over the year and spent monthly

e) Frank’s salary will be paid in equal monthly installments

Case Study Question 5:
Frank would like some help preparing the business plan that the bank have asked for. Using the break-even forecast, the cash flow forecast and other
information that you have already produced, create some notes for Frank to include in his proposal to the bank. Additionally, include some notes about the
following:

•  An estimate of the profit and loss for the first year
•  Suitable promotional techniques for selling the software
•  Anything significant you feel Frank has omitted from his plan

Case Study Question 6:
What advice would you give Frank about his proposed business plan? Explain your reasoning.

Case Study Question 7:
List 3 stakeholders and describe how Frank could consult with them in regards to his business plan.

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